Peter J. Burns III: Cryptomining Insurance


The Challenge:

There is not a specific insurance policy to insure cryptocurrency mining equipment in the fastest growing business in the last half-century. Clients and Insurance Agents are guessing what policy to pick and are only picking 1 or 2 coverages with additional rider fees... adding up to be a fortune compared to what is actually being covered.

The most unfortunate occurrence is the fact that claims are being denied because the investors don’t have the proper insurance to cover the intricacies of the operation, and no insurance currently exists to cover the specific needs of the operation.

Mining Equipment breaks down with little or no warranty coverage for these machines... leaving the investors' assets and ROI in major jeopardy, while putting major pressure on project managers and coordinators. As a result, the mining rigs are producing no revenue during the down time during repair or replacement time... incurring additional costs that most operators do not account for in projections to investors.

Most importantly, to have all these coverages plus additional riders in the traditional insurance world will cost more than it is worth to remain protected and profitable. UNTIL TODAY…

The Solution:

A specific insurance product has just been perfected that is just for Cryptocurrency mining equipment - designed by a cryptocurrency miner. NO MORE guessing on what policies and riders to choose. NO MORE purchasing multiple policies with no protection hurting your bottom line. NO MORE losing sleep at night wondering if your investment is protected!

  1. Electronic hardware and software, including mining data processing equipment, and components, including electronic components, are insured to a maximum recovery of replacement cost per machine. Electronic equipment means data storage devices, and program devices for electronic and electro-mechanical data processing or for electronically controlled equipment.

2. Flood

3. Theft

4. Business Interruption actual loss with a (maximum of $300 per month for 2 months per machine).

5. Extended warranty (2 years past the original two year manufacture's warranty)

6. Damage as a result of power surge.

7. Damage of individual parts not covered to equipment by manufacture's warranty

** 110% of Replacement cost of Machine **

Our company, Crypto Tech ( offers cryptocurrency mining rig financing which now includes full insurance coverage for your equipment. Existing crytomining operations of virtually any size may now also be coverered by our comprehensive coverage.

Reach back and let us give you a quote for both your financing needs and insurance coverage:

Learn more about the author's many (Ad)Ventures in Capitalism at

Posted on September 23, 2018 .